Norway is providing NOK 248m (€21m) in grant funding to companies seeking to advance the renewable energy sector in developing countries.
Grants are awarded during an early project phase in order to decrease risk, the Norwegian government said.
“This scheme is popular because it is effective”, said Minister of International Development Anne Beathe Kristiansen Tvinnereim.
The 27 new projects will receive the funding under the enterprise development scheme for renewable energy.
Projects include increased battery capacity for energy storage, and the development of wind farms.
The scheme provides companies with funding to cover the costs of feasibility studies and other expenses related to the project establishment phase.
Ten of the projects are Norwegian and a further four have Norwegian partners or shareholders.
Tvinnereim added: “These are bold companies seeking to invest in sustainable energy solutions in developing countries.
“We are providing funding assistance at a critical, often decisive project phase that can determine whether the projects will be able to proceed.
“Developing countries have an enormous need for energy to continue their development processes, but this energy must be green to be sustainable for our planet. This grant scheme helps to make this possible.”